AXYZ Mobile writes: "CBS just purchased social music site Last.fm for £140m or $280m, making this the largest-ever UK "Web 2.0" acquisition, reports BBC News.
CBS has become the latest media giant to scoop up a social networking Web site. The expectation is that Last.fm members will be able to post CBS video clips to the site, and that CBS will take advantage of the new digital distribution outlet to entice ad buyers."